275. Buying vs. Building a Storage Facility: Pros and Cons, Costs, and Timeline with Guest Matt Wallace

Self Storage Income

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27d ago 52:53

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Buying vs. building storage units: which is the better choice, especially for beginners? Is buying a pre-fab (kit) facility better than building one from scratch? Or does buying a run-down self storage facility with value-add potential outperform building due to lower costs? We brought back an all-time favorite episode with investor Matt Wallace to get you some answers.

Matt has done both—buying and building storage units. He’s taken run-down facilities and made them top performers, as well as taking a plot of land and turning it into a 100% occupied self storage facility. Which one does HE think is the better investment? And would he advise a beginner to start with self storage new builds?

In this episode, Matt gives a masterclass on the pros and cons of building storage units, who should (and shouldn’t) be doing it, what you MUST know before you start building, and how he “makes” phenomenal self storage deals that most other investors miss.

What you’ll learn in today’s show:

Buying vs. building self storage facilities and which is better for beginners
How Matt filled up a brand new facility (250+ units!) in under three months!
The building timeline and why it’s (probably) going to take longer than you think
Why you DO NOT want to buy a “self storage kit” and build it yourself
How to win a self storage deal even if you feel out of the race

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Connect with Matt: https://wealthfit.com/expert/matt-wallace/

Connect with Ben, Cedar Creek’s Debt Expert: https://www.linkedin.com/in/benjamin-benditson-291a6010/

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